MercadoLibre, Inc. (NASDAQ:MELI) Holdings Lifted by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 46.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 361 shares of the company's stock after purchasing an additional 114 shares during the period. Fiduciary Financial Group LLC's holdings in MercadoLibre were worth $698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors lifted its position in shares of MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in MercadoLibre in the 4th quarter valued at about $565,306,000. Capital World Investors lifted its holdings in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $383,051,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI stock traded down $14.99 on Thursday, reaching $2,372.01. The company's stock had a trading volume of 213,663 shares, compared to its average volume of 415,844. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The company has a market capitalization of $120.25 billion, a P/E ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The firm has a fifty day moving average of $2,318.55 and a two-hundred day moving average of $2,070.71. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.78 EPS. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MELI shares. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday. Barclays increased their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,632.50.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.